Available for residents nationwide, My Banking Direct is offering a Money Market Account with 0.25% APY.
Continue reading below to learn everything you need to know about My Banking Direct.
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About My Banking Direct Money Market Review
My Banking Direct is a service of New York Community Bank, a consumer-facing institution that offers personal and business banking products and services. It was established in 1859 and by avoiding overhead costs created by branches, the bank can offer higher yields through its online platform.
They offer a competitive interest rate that, along with its money market account offering, targets consumers looking to maintain liquidity.
I’ll review My Banking Direct Premium Money Market below.
My Banking Direct Money Market 0.25% Rate
- Account Type: Money Market Account
- Interest Rate: 0.25% APY
- Minimum Balance: $25,000
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Unknown
- Opening Deposit: $2,500
- Credit Card Funding: Unknown
- Monthly Fee: None
- Early Termination Fee: None Listed
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Aspiration||1.00% APY + $100 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY + $100 Cash||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
|Discover Bank Online Savings||0.40% APY||Review|
My Banking Direct ACH Capabilities and Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
How to Earn My Banking Direct Rates
- Open a Money Market account from My Banking Direct.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- 0.25% APY for balances below $5,000
- 0.15% APY for balances $5,000 – $24,999.99
- 0.05% APY for balances over $25,000
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Online and Mobile Banking
- FDIC Insured
- No monthly service fees
- Access to your account 24/7
- Check writing capabilities
- NYCB Mobile Deposit
Check out this offer from My Banking Direct and open a Money Market Account to earn a 0.25% APY rate today! All it takes is to maintain a $25,000 minimum balance to earn the APY rate! It’s easy to sign up so hurry before this offer expires!
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on My Banking Direct Money Market Account.